Midday report

The royal pair is correcting the consecutive bullish movements, which is obtained from the cup with handle pattern alongside the harmonic pattern, which is planning to reach the extended targets around 0.9260 over the short term basis. Hence we keep our outlook to the upside on the intraday basis. Areas of 0.8905 should hold to protect our scenario.

Trading range is among the key support at 0.8860 and key resistance now at 0.9205.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationOur morning expectation is still valid.